Forecast for the Week 
- Economic data releases start Thursday with weekly Initial Jobless Claims.
- On Friday, the Producer Price Index, Retail Sales and Consumer Sentiment Index data will be released.
Remember: Weak economic news normally causes money to flow out of Stocks and into Bonds, helping Bonds and home loan rates improve. In contrast, strong economic news normally has the opposite result. The chart below shows Mortgage Backed Securities (MBS), which are the type of Bond on which home loan rates are based.
When you see these Bond prices moving higher, it means home loan rates are improving—and when they are moving lower, home loan rates are getting worse.
To go one step further—a red “candle” means that MBS worsened during the day, while a green “candle” means MBS improved during the day. Depending on how dramatic the changes are on any given day, this can cause rate changes throughout the day, as well as on the rate sheets we start with each morning.
As you can see in the chart below, Mortgage Bonds were clobbered following the positive employment news. Despite this, home loan rates remain quite attractive for home purchases or refinancing.
Chart: Fannie Mae 3.5% Mortgage Bond (Friday November 06, 2015)
The Mortgage Market Guide View…
5 Good Reasons to Fire Bad Clients
Whether you can’t decide if you have a bad client on your hands or you know you do, here are 5 telltale signs of bad clients and how to handle them:
- They micromanage your work. If your work is thorough, a micromanaging customer can be frustrating and force extra work on your part with unneeded follow up or additional documentation. Gentle reminders about the process, expectations and your expertise will help.
- They don’t value your opinion. Lack of trust is fatal to all relationships. When customers don’t take your expert advice seriously, address it. Clarify what they want from you by asking them calmly and candidly.
- They don’t respect your time. Frequent lateness or “no shows” for meetings, appointments or calls is disrespectful to you, your team and your other clients. If possible, bill them for the time. Have clear scheduling policies that you share. And if clients routinely show up late, remember to still end on time, letting them know your next appointment is waiting.
- They always haggle price. If you do great work and give lots of value, there should be little to discuss about your fees. To be safe, always discuss your fees up front, so there are no surprises.
- You just want to avoid them. Life is too short to spend time with people you don’t like or who don’t seem to value your time and expertise. Set clear boundaries and expectations, and communicate them often.
If you decide it’s time to let your client go, schedule a face-to-face meeting to explain why the relationship isn’t working and discuss options that might be a better fit for them. Remain professional. If you have a contract, make sure you fulfill the terms.
Feel free to pass these helpful tips along to your team, clients and colleagues!
Source: Entrepreneur.com
Economic Calendar for the Week of November 09 – November 13
|
Date
|
ET
|
Economic Report
|
For
|
Estimate
|
Actual
|
Prior
|
Impact
|
| Thu. November 12 |
08:30
|
Jobless Claims (Initial) |
11/7
|
NA
|
NA
|
Moderate
|
|
| Fri. November 13 |
08:30
|
Producer Price Index (PPI) |
Oct
|
NA
|
-0.5%
|
Moderate
|
|
| Fri. November 13 |
08:30
|
Core Producer Price Index (PPI) |
Oct
|
NA
|
-0.3%
|
Moderate
|
|
| Fri. November 13 |
08:30
|
Retail Sales |
Oct
|
NA
|
0.1%
|
HIGH
|
|
| Fri. November 13 |
08:30
|
Retail Sales ex-auto |
Oct
|
NA
|
-0.3%
|
HIGH
|
|
| Fri. November 13 |
10:00
|
Consumer Sentiment Index (UoM) |
Nov
|
NA
|
90.0
|
Moderate
|
The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Mortgage Market Guide, LLC is the copyright owner or licensee of the content and/or information in this email, unless otherwise indicated. Mortgage Market Guide, LLC does not grant to you a license to any content, features or materials in this email. You may not distribute, download, or save a copy of any of the content or screens except as otherwise provided in our Terms and Conditions of Membership, for any purpose. The material contained in this newsletter is provided by a third party to real estate, financial services and other professionals only for their use and the use of their clients. The material provided is for informational and educational purposes only and should not be construed as investment and/or mortgage advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.
Mortgage Info By Michelle Wickett 